Budgetless Renovation: How to Stay on Track

by Carolyn Andrews 05/02/2021

Image by Malachi Witt from Pixabay

You might think renovating a home is simple when budget isn't a factor, but when there are no limits, it's deceptively easy to become side railed. Getting off-track on a home renovation can be disastrous. You may end up with rooms that feel cavernous and impossible to fill or hallways that meander on, seemingly for miles. Worse, you might find yourself stuck in the middle of a renovation that never seems to end. You'll need focus and a plan to keep these situations from happening. 

Have a Definite Plan Before You Begin

It's important to have a plan and to stick closely to it throughout your renovation. This doesn't mean you won't opt for an alternate style of sink or choose different flooring. It means deciding what you're going to renovate and how long you want it to take. Have an overall design and a timeline for each element. And have an overall timeframe of when the work will be completed. Keep the momentum of the project going with incremental goals so you can measure progress. 

Act as Though You Have a Budget, Even if You Don't

It may sound unnecessary, but setting a budget is actually vital. Even if funds are unlimited, you should set a target for your contractors to operate within. The professionals who are working to help you with your remodel -- your designer, your contractor, and more -- need to have real, physical limits on spending. If you want to go all-in, that's fine. But you should still declare financial limits, even if it's only for your own peace of mind. 

Narrow Your Choices

When you can have everything your heart desires, it's easy to become overwhelmed with options. Sit down with anyone else who will be living in the house and talk through which features are needs and which are wants. It's great to incorporate both, but needs should always take precedence so that the final result serves you well. While you may have the budget for a home movie theater, do you have the space? And if not, where will you make the space? Will you sacrifice your finished basement, or will you add on a new level? Once you have an exact idea of what everyone wants and how you'll achieve it, it's time to approach a designer and a contractor. 

Exercising a little caution during an upscale home renovation will keep things moving along at an acceptable pace. It will also help keep you and your design team from becoming lost along the way. 

About the Author
Author

Carolyn Andrews

Carolyn Andrews has over 30 years licensed Brokerage experience in both California and Colorado. Born in England, Carolyn moved to California in 1980, then relocated to Denver, Colorado in 1991. Carolyn has also received recognition for Top Sales at RE/MAX Alliance Aurora in 2007-2008 and is a member of the RE/MAX Hall of Fame & Chairman’s Club, as well as a recipient of the ReMax Lifetime Achievement Award. Carolyn has sold over 2000 homes personally in her career. Carolyn has been actively involved in many aspects of the Real Estate business including investment property, luxury homes, mountain resort property, skiin/ski out, REO/default management, loss mitigation, valuations, and disposition. She has been a speaker and panelist at several conferences and has been consulted on many occasions by various organizations in the REO/financial industries for her expertise and served on many boards. She has attended numerous ongoing classes to stay abreast of changes in the ever-evolving Real Estate industry. She is the prior State Director for Colorado for VAREP(Veterans Association of Real Estate Professionals). She is a member of 3 boards of Realtors including Metro Denver, Colorado Springs and Summit County mountain areas. She heads up The Andrews Group and is or has been an active member of NAR, CAR,REOMAC, CIPS, CRS, AREAA, NAPW, NAHREP, and is an original member of the ELITEReal Estate network. She was ranked #1 for most homes sold in Denver 2007 by Denver Board of Realtors, #2 for 2008, and #2 for 2009, #5 in 2010 and #4 in 2011 and has been consistently in the top 10 ever since. Carolyn Andrews has been a top rated Endorsed Local Provider for the Dave Ramsey Organization and also a Top Producing agent for 2018 for the Homelight Company.